Shibarium is the dominant trend on social media and the internet, and the ecosystem’s tokens have experienced a spike in market and social activity.
According to Lunar Crush, a crypto intelligence platform, social engagements generated by Shiba Inu (SHIB) have jumped 135% since July 5, reaching a total of 861.85 million.
The social volumes of Shiba Inu on Twitter have also increased, but not as significantly as on YouTube. I did some digging to find out why there was such a surge in social volumes for Shiba Inu. It turns out that it was due to the upcoming launch of Shibarium and the activity in its testnet.
The Shibarium testnet is experiencing a spike in activity, with approximately 29 million transactions recorded in the last two days. This rate of growth is astonishing, and if it continues, the testnet might surpass 30 million transactions by the weekend.
The number of wallet addresses connected to Shibarium beta Puppynet has not increased over the previous week or longer. There are still 17,061,579 wallet addresses in existence.
Shibarium’s release date was first misunderstood because Shytoshi Kusama stated that it will be released “well before May.” However, he later emphasized that this comment had been misinterpreted and that he was no longer focused on precise dates.
One of the most eagerly awaited developments in the cryptocurrency world is the debut of Shibarium, and there has been a considerable rumor about the launch date. It will be live after the Eth Toronto conference ends on August 16, according to a recent blog post.
Shytoshi Kusama has suggested that SHIB-branded initiatives would be unveiled during the event, where SHIB will be a sponsor. Kusama also intends to use AI technology to deliver a speech virtually.
Shibarium mainnet is nearing completion, but an exact release date has not yet been determined. Lucie, the official marketing specialist of Shiba Inu, has said that Kusama is unlikely to reveal his true identity at the Eth Toronto event, given his preference for anonymity.
Shiba Inu token SHIB has had a noteworthy month. Its price has sharply recovered following a 31% decrease in a single day, and its market value has climbed by $500 million.
Additionally, there were unanticipated price gains for Doge Killer (LEASH) and Bone ShibaSwap (BONE), which corresponded with beneficial returns for traders and investors.
SHIB has come a long way since its humble beginnings as a meme coin. It is now one of the top 20 largest digital assets in the market, with a market capitalization of over $4.4 billion.